James Bord has been selected Sheffield Wednesday’s preferred bidder, but he has met a significant stumbling block throughout the acquisition process.

The Owls suffered their 23rd Championship defeat of the season on Saturday, losing 2-1 against Millwall despite opening the scoring through Jamal Lowe on the hour mark.

Meanwhile, Wednesday are losing £1 million per month as they remain in administration.

The South Yorkshire club will be hoping to end their terrible run of form on Sunday when they face Sheffield United in the Steel City Derby.

Sheffield Wednesday prospective owner James Bord is being sued by his former business partner.

Bord’s anticipated Wednesday takeover has yet to be consummated, preventing the Owls from making effective long-term preparations.

According to The Times, the American is being sued by his former business partner, Jonathan Cohen, for an investment in Cordoba, a Spanish club owned in part by Bord.

According to the newspaper, Cohen claims that Wednesday’s potential owner ‘wilfully’ misled him into believing that Cordoba was debt-free when he agreed to invest in the second-tier squad in 2024, despite the fact that the club was really roughly £16.9 million in debt.

According to the Times, the case raises concerns about Bord failing the EFL’s owners’ and directors’ criteria.

James Bord uncertainty is the last thing Sheffield Wednesday needs.

Wednesday have already undergone an extraordinarily difficult year both on and off the field, embracing the fact that they will play football in League One next season.

The Owls fans will want their team to be taken over as quickly as possible so that they can exit administration and plan for a potential Championship return.

However, the EFL is currently investigating whether Bord’s Wednesday acquisition will be primarily funded by gaming and crypto-gambling earnings, which has caused a delay.

Meanwhile, the fact that Bord is presently being sued by Cohen will undoubtedly create concern among Owls supporters.

According to The Times, section six of the EFL’s rulebook states that a potential owner or director may be disqualified if “they are subject to any unsatisfied judgment or court order for payment of any monetary amount (provided all appeal rights have been exhausted).”

As a result, the outcome of Cohen and Bord’s case may have an impact on whether Wednesday’s takeover is completed.

Henrik Pedersen’s team will be dismayed to hear of more uncertainty, since the Owls’ financial situation has had a significant impact on their on-field performance.

Saturday’s defeat to Millwall was the first time Pedersen’s side scored since a 2-2 draw with Hull City at Hillsborough on Boxing Day.

The Owls will hope to give a decent account of themselves when they face Sheffield United, who re-established their play-off credentials with a 1-0 win at Portsmouth.

Above all, Wednesday will be nervous about whether the EFL will allow Bord’s takeover.